Quote (Black XistenZ @ 22 Jan 2020 20:32)

Around 19 million Americans are millionaires. Those folks with a net worth between 1 and lets say 10 million dollars are typically professionals (doctors, lawyers, managers etc.) or successful businessmen. They represent the most well-off segment of "ordinary people". Also, often times, a large portion of their net worth is tied up in their house and property.

There is indeed a huge gap between this kind of "ordinary" millionaires on the one side and the billionaires or those with a net worth in the high triple digit millions on the other side. (The latter are typically hedge fund managers, owners and funders of large corporations, top-of-the-crop corporate lawyers, top 1% in their field actors and sports stars, etc.)

Pretty much anyone who's talented, works hard, makes the right decisions and perhaps get a little lucky here and there can become a millionaire in the 1-10m bracket, even while living an honest life and treating others fairly.
But it's virtually impossible to reach the 500m-100b bracket without exploiting your workers (e.g. Jeff Bezos), shitting on consumer rights (e.g. Mark Zuckerberg), engaging in predatory business conduct (e.g. Bill Gates) or making your money with morally questionable actions (most hedge fund managers and corporate lawyers).

Quote (MxVivianWulf @ Jan 22 2020 02:30pm)

If Sanders delivers even a quarter of what he wants you'll all be much better off.

I doubt he'll get the nomination though tbh. I'm pretty doomer on politics right now ngl.

Quote (MxVivianWulf @ 22 Jan 2020 21:35)

Lol.

Pretty much anyone - as long as they're talented, able to work hard, makes the 'right' decisions and gets lucky.

But pretty much anyone.

Holy shit.

Quote (IgoSoHard @ Jan 22 2020 03:02pm)

Lol, boss move though.

- Let’s play Madden on Xbox

- I don’t have an Xbox.

*opens phone, swipes a few times

-You do know. What’s your address ?

One of my truly best friends was born into a very poor family in Indonesia, until a wealthy oil family from Texas came & adopted him & his 2 siblings. When I say wealthy I mean all the kids got like $2.5 million when they turned 18, & like $5 mil When they turned 25 or graduated from college. He thankfully never let it go to his head, & unless you knew the details, would never guess he’s pretty wealthy based upon how he acts & treats people. Genuinely 1 of the nicest people I’ve ever met. However, he does get taken advantage of, normally by girls, wayyyy too often. I’m constantly seeing him wine&dine these dime pieces that always end up friend-zoning him because he’s Asian & 5’2” but he’s balling so they keep coming around. I’m always like so who was that you took on what looked like a $300 dinner ? He’s like oh, she’s just a friend I help out with bills sometimes, I’m like bruhhhh

Quote (Bazi @ Jan 22 2020 03:15pm)

Send ur friend my number. I will treat king azn how he deserves

Quote (Black XistenZ @ Jan 22 2020 03:44pm)

I said pretty much anyone with the right talent and work ethic has the possibility to reach this level of wealth without having to sell out, exploit his workers, pollute the earth or defend rich murderers in court. Therefore, most people in this 1-10m net worth bracket are still part of what I would call "ordinary people" and not necessarily evil. By contrast, as I said, it is more or less impossible to become a billionaire without exploiting someone or engaging in other forms of shitty behavior.

Quote (Black XistenZ @ Jan 22 2020 02:32pm)

Around 19 million Americans are millionaires. Those folks with a net worth between 1 and lets say 10 million dollars are typically professionals (doctors, lawyers, managers etc.) or successful businessmen. They represent the most well-off segment of "ordinary people". Also, often times, a large portion of their net worth is tied up in their house and property.

There is indeed a huge gap between this kind of "ordinary" millionaires on the one side and the billionaires or those with a net worth in the high triple digit millions on the other side. (The latter are typically hedge fund managers, owners and funders of large corporations, top-of-the-crop corporate lawyers, top 1% in their field actors and sports stars, etc.)

Pretty much anyone who's talented, works hard, makes the right decisions and perhaps get a little lucky here and there can become a millionaire in the 1-10m bracket, even while living an honest life and treating others fairly.
But it's virtually impossible to reach the 500m-100b bracket without exploiting your workers (e.g. Jeff Bezos), shitting on consumer rights (e.g. Mark Zuckerberg), engaging in predatory business conduct (e.g. Bill Gates) or making your money in morally questionable fashion (most hedge fund managers and corporate lawyers).

Quote (Black XistenZ @ 22 Jan 2020 20:44)

I said pretty much anyone with the right talent and work ethic has the possibility to reach this level of wealth without having to sell out, exploit his workers, pollute the earth or defend rich murderers in court. Therefore, most people in this 1-10m net worth bracket are still part of what I would call "ordinary people" and not necessarily evil. By contrast, as I said, it is more or less impossible to become a billionaire without exploiting someone or engaging in other forms of shitty behavior.

Quote (bogie160 @ 22 Jan 2020 21:33)

People with low 7 figure net worths are "normal" in the sense that they don't live extravagant lives. Their lifestyles are not that different from the middle and upper-middle class. Most of them are probably still residents of the upper-middle class.

Where I disagree though is with people like Bezos. He has literally done nothing wrong.

Quote (Thor123422 @ 22 Jan 2020 23:05)

Lol this is pretty delusional. No, not everyone can have a million dollars in assets at the current value. Not everybody can go to law school, medical school, or be a successful business owner because there arent enough customers, jobs, or school spots to do so.
and not everybody can invest steadily and make consistent gains. When people buy those "consistent investments" the price goes up relative to what it will gain based on value and you end up with an artificial bubble that crashes and loses most people money.

That there are "losers" is built into the foumdation of the system. We dont have to have a discussion of mental illness, systematic oppression, or any controversial topic. That not everybody can be successful is a feature, not a bug

Quote (MxVivianWulf @ 22 Jan 2020 23:32)

Extracting profit from your workers is exploitation.

You CAN reach it through relatively ethical means, especially in a service industry. But it's pretty difficult to do so.